McDermott International Inc (MDR) Expected to Announce Quarterly Sales of $2.70 Billion

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Equities analysts predict that McDermott International Inc (NYSE:MDR) will report sales of $2.70 billion for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for McDermott International’s earnings. The lowest sales estimate is $2.66 billion and the highest is $2.75 billion. McDermott International posted sales of $718.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 276%. The business is expected to announce its next earnings report on Wednesday, February 20th.

On average, analysts expect that McDermott International will report full year sales of $7.34 billion for the current fiscal year, with estimates ranging from $7.29 billion to $7.38 billion. For the next fiscal year, analysts expect that the business will post sales of $9.74 billion, with estimates ranging from $9.72 billion to $9.76 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow McDermott International.

McDermott International (NYSE:MDR) last posted its earnings results on Tuesday, October 30th. The oil and gas company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.09). The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.50 billion. McDermott International had a return on equity of 8.40% and a net margin of 2.05%. The business’s revenue was up 138.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share.

Several research analysts have weighed in on MDR shares. Citigroup reduced their target price on McDermott International from $21.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, November 1st. TheStreet lowered McDermott International from a “b-” rating to a “c+” rating in a report on Wednesday, October 24th. KeyCorp reduced their target price on McDermott International from $42.00 to $38.00 and set a “$17.66” rating on the stock in a report on Monday, July 23rd. Zacks Investment Research lowered McDermott International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 11th. Finally, ValuEngine lowered McDermott International from a “sell” rating to a “strong sell” rating in a report on Thursday, September 6th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $25.32.

MDR stock traded up $0.34 during midday trading on Friday, hitting $10.29. 4,637,171 shares of the company’s stock were exchanged, compared to its average volume of 3,643,481. The company has a current ratio of 0.78, a quick ratio of 0.77 and a debt-to-equity ratio of 0.96. The firm has a market cap of $1.58 billion, a PE ratio of 5.36 and a beta of 2.58. McDermott International has a one year low of $6.97 and a one year high of $27.21.

In other news, CEO David Dickson purchased 39,800 shares of the business’s stock in a transaction dated Tuesday, November 6th. The shares were bought at an average cost of $9.96 per share, for a total transaction of $396,408.00. Following the completion of the acquisition, the chief executive officer now directly owns 459,889 shares in the company, valued at approximately $4,580,494.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Scott Munro sold 2,250 shares of the business’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $15.90, for a total value of $35,775.00. Following the completion of the sale, the senior vice president now owns 33,020 shares in the company, valued at $525,018. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 127,300 shares of company stock worth $1,255,068. Corporate insiders own 0.80% of the company’s stock.

Several institutional investors have recently modified their holdings of MDR. Envestnet Asset Management Inc. bought a new stake in shares of McDermott International in the second quarter valued at about $117,000. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of McDermott International in the second quarter valued at about $128,000. Hanson & Doremus Investment Management lifted its holdings in shares of McDermott International by 60.2% in the second quarter. Hanson & Doremus Investment Management now owns 6,831 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 2,566 shares in the last quarter. Icon Wealth Partners LLC bought a new stake in shares of McDermott International in the second quarter valued at about $134,000. Finally, Stratos Wealth Partners LTD. bought a new stake in shares of McDermott International in the third quarter valued at about $147,000. Institutional investors own 87.85% of the company’s stock.

McDermott International Company Profile

McDermott International, Inc provides engineering, procurement, construction and installation, front-end engineering and design, and module fabrication services for upstream field developments. It operates through three segments: the Americas, Europe and Africa; the Middle East; and Asia. The company delivers fixed and floating production facilities, pipeline installations, and subsea systems from concept to commissioning for offshore and subsea oil and gas projects.

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Earnings History and Estimates for McDermott International (NYSE:MDR)

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